Kate Heiny. Target
Maggie Cohen Merck
Kate. Undergrad Tulane - religion and enviro studies. Master enviro science. Worked in Consultting cleaning up messes.
Quit and managed Gelato company and worked for environment health news online.
Business School. Found company that should be doing and would probably would be doing soon. Corporate Finance.
Maggie. Merck 15 years. Northwestern in Journalism and African Studies. Internship at Merck. Public relations with health programs in subsaharan Africa. Worked in Chicago in consulting field for Accenture/Anderson. Returned to Merck. Live in NJ Speech writer for CEO. Latin America division. Access to medicine, how produce disclosure safety, physician disclosure on payments.
GRI - global reporting initiative frist in 2004. Publish reports. Communication department not the right place. Pressured to always tell the happy story. Moved out of Communication division into public policy division. Can report in more of an independent fashion.
Religion, Journalist and History
Ben. History and spanish lit.
Seattle non profit helping people getting jobs in environment.
Plastic recycling business. Liked private sector and didn't have skills.
Got MBA and UW.
Environmental Affairs at Starbucks. Global Responsibility Function.
Openness Communication Accountability
What does transparency mean?
Kate.
Based in midwest. Culture of not talking to others about what you're doing. Not shouting off rooftops about what doing. Over the past 3-5 years. Mostly passed 3. Shift in communications style. Target in early stages of recognizing need to talk about what doing.
Recycling out the back of our stores. Giving back 5% of revenue. Also trying to figure out how to talk about things already been doing.
Maggie.
Disclose information stakeholders need to know. What information do they need to know to prescribe. What do patient need to know to take products. Stakeholders. Employees. Concerns are because don't know how do something or why. Been a lot of fear that disclosure lead to litigation, take a lot of people hours. Put in place filters. Have great General Council.
Ben.
Complex long term issues. How to synthesize, not just create a message but simplify good direction, bad direction. No simple answers to problems. Being clear. Sharing progress on how doing goals. Open to hearing other points of view. Building trust between employees and customers.
MAggie.
Report is a communciation tool. Different stakeholders want to know different information. Do an annual report for technical people. Interested in data. WAter use. Job seekers. High level story about MErck to make sure Merck has safety measures in place.
Kate.
Reports a tool. A complicated proxy. Shiny people and good stories or not meeting goals. As growing more stakeholders reading and demanding more information that company not willing to share.
Other tools.
Survey's respond to. Conversations with NGOs, govt, different stakeholders.
Trust. Stakeholders ask a lot of questions. Don't always know why, but they are looking for information to help them trust.
Top two audience for report
Kate: investors and new team members
M: Socially responsive investors, and
B: Partners and employees and customers
What are stakeholders asking for?
K: Activists: sourcing, how dealing with a specific issues
Guests/customers: why doing things in the store or why not. Why not recycling plastic bags?
Whoever reading report, they are looking for more transparency
M: Activist: run the gamut of environment, political contributions, percentage of membership fees pay to trade organizations,
Socially interested investors: transparency and licensing
Customers: environmental information
Hospital: Kaiser Mayo - also asking environmental info
Walmart: consumer products side. - supply chain
Use transparency to be competitive sometimes hinders:
K. Ultimate transparency would limit competitiveness. Why need? What are you going to do with that information.
M: Most rational stakeholders understand that there are trade secrets. Highly proprietary. Marketing plans competitive. Ones that push have an agenda and their agenda is not always in the interest of the business. Somethings legally cannot be released. Can not be 100% transparent.
Filters:
M: I don't think companies can choose on their own. Should we be putting climate change in there for a risk. Climate change is not a material business risk for pharmaceutical risk. Access to water is. So putting in 10K not important. Does Merck care about the environment, what are they doing to reduce emissions? We talk about it in our CR report, quarterly have a statement on website under policy.
Plot issue that are a concern to company and stakeholders and report on issues that are show high importance to company and high importance to stakeholders - plot issues
K. What are company issues, what is relevant to our stakeholders. What will we share out with you. Working to reach common solutions. Materiality would be good way to map compatibility of organizations. As a stakeholders that wants to work with us, if their concerns are similar to us, than fruitful for further discussion and partnership.
Global Reporting Initiative: What content should be in a report?
K: Have not used GRI in the past. This past year used, but did not have it audited. Took first step. Early on in journey. Don't feel it is an answer
M: Used since 2004. 78 Indicators on all different parts of business can report to A Level to C Level. Don't have to report if can make a case not material or propriety. Good, covers basics. Some industries have created sector specific supplement. Not pharma.
Access to medicine. Use as another measure.
Measure progress in achieving Millennium Goals.
B: Framework. Map online on how Starbuck's report links to GRI.
How technology affecting transparency?
M: Tough for highly regulated industry. Pharma industry is hesitant to use blogs, discussions because fearful of patients reporting adverse reactions. Often finding third parties with inaccurate, incomplete information on their webpages, pose question on how to respond, if should respond.
Realtime annual reports. Timberline
K: Good for information sharing. Also a lot of opportunity for swirl. Questions and challenges that is not what the company does not need to be focused on.
Dell and Intel good models.
Trend for reporting is not a static annual report. Trend is information at fingertips. Scan product on store shelf.
B: Starbucks. Leverage social media platforms to create rigorous discussion. Starbuck's are giving back information on all aspects, why not recycling cups, why not this flavor, this store not run well, helps you see what the customers are passionate about.
Q/A
Third Party Assurance Auditing
K: Building trust. Value to stakeholders to feel reading is accurate. Target has not done yet, plan to do in future.
M: Not currently used. However important learn a lot internally. Data collection. Recent merger with Sherring Plough complicated systems.
Very expensive. Have to make a case for that.
B: So much mistrust we decided to have data audited. Painful but it makes you better.
B:Proactive reporting opportunity for building trust. Can be a competitive advantage. Stronger policy ties.
Have to respond to noisy stakeholder even if a minority.
K:Value of transparency. 2008 Shareholder that wanted to take back real-estate business. Had public process to inform and educate shareholders. Here to tell you why were are not supporting this idea. Found out that sharing what doing as a business, garners a lot more support.
Maggie Cohen Merck
Kate. Undergrad Tulane - religion and enviro studies. Master enviro science. Worked in Consultting cleaning up messes.
Quit and managed Gelato company and worked for environment health news online.
Business School. Found company that should be doing and would probably would be doing soon. Corporate Finance.
Maggie. Merck 15 years. Northwestern in Journalism and African Studies. Internship at Merck. Public relations with health programs in subsaharan Africa. Worked in Chicago in consulting field for Accenture/Anderson. Returned to Merck. Live in NJ Speech writer for CEO. Latin America division. Access to medicine, how produce disclosure safety, physician disclosure on payments.
GRI - global reporting initiative frist in 2004. Publish reports. Communication department not the right place. Pressured to always tell the happy story. Moved out of Communication division into public policy division. Can report in more of an independent fashion.
Religion, Journalist and History
Ben. History and spanish lit.
Seattle non profit helping people getting jobs in environment.
Plastic recycling business. Liked private sector and didn't have skills.
Got MBA and UW.
Environmental Affairs at Starbucks. Global Responsibility Function.
Openness Communication Accountability
What does transparency mean?
Kate.
Based in midwest. Culture of not talking to others about what you're doing. Not shouting off rooftops about what doing. Over the past 3-5 years. Mostly passed 3. Shift in communications style. Target in early stages of recognizing need to talk about what doing.
Recycling out the back of our stores. Giving back 5% of revenue. Also trying to figure out how to talk about things already been doing.
Maggie.
Disclose information stakeholders need to know. What information do they need to know to prescribe. What do patient need to know to take products. Stakeholders. Employees. Concerns are because don't know how do something or why. Been a lot of fear that disclosure lead to litigation, take a lot of people hours. Put in place filters. Have great General Council.
Ben.
Complex long term issues. How to synthesize, not just create a message but simplify good direction, bad direction. No simple answers to problems. Being clear. Sharing progress on how doing goals. Open to hearing other points of view. Building trust between employees and customers.
MAggie.
Report is a communciation tool. Different stakeholders want to know different information. Do an annual report for technical people. Interested in data. WAter use. Job seekers. High level story about MErck to make sure Merck has safety measures in place.
Kate.
Reports a tool. A complicated proxy. Shiny people and good stories or not meeting goals. As growing more stakeholders reading and demanding more information that company not willing to share.
Other tools.
Survey's respond to. Conversations with NGOs, govt, different stakeholders.
Trust. Stakeholders ask a lot of questions. Don't always know why, but they are looking for information to help them trust.
Top two audience for report
Kate: investors and new team members
M: Socially responsive investors, and
B: Partners and employees and customers
What are stakeholders asking for?
K: Activists: sourcing, how dealing with a specific issues
Guests/customers: why doing things in the store or why not. Why not recycling plastic bags?
Whoever reading report, they are looking for more transparency
M: Activist: run the gamut of environment, political contributions, percentage of membership fees pay to trade organizations,
Socially interested investors: transparency and licensing
Customers: environmental information
Hospital: Kaiser Mayo - also asking environmental info
Walmart: consumer products side. - supply chain
Use transparency to be competitive sometimes hinders:
K. Ultimate transparency would limit competitiveness. Why need? What are you going to do with that information.
M: Most rational stakeholders understand that there are trade secrets. Highly proprietary. Marketing plans competitive. Ones that push have an agenda and their agenda is not always in the interest of the business. Somethings legally cannot be released. Can not be 100% transparent.
Filters:
M: I don't think companies can choose on their own. Should we be putting climate change in there for a risk. Climate change is not a material business risk for pharmaceutical risk. Access to water is. So putting in 10K not important. Does Merck care about the environment, what are they doing to reduce emissions? We talk about it in our CR report, quarterly have a statement on website under policy.
Plot issue that are a concern to company and stakeholders and report on issues that are show high importance to company and high importance to stakeholders - plot issues
K. What are company issues, what is relevant to our stakeholders. What will we share out with you. Working to reach common solutions. Materiality would be good way to map compatibility of organizations. As a stakeholders that wants to work with us, if their concerns are similar to us, than fruitful for further discussion and partnership.
Global Reporting Initiative: What content should be in a report?
K: Have not used GRI in the past. This past year used, but did not have it audited. Took first step. Early on in journey. Don't feel it is an answer
M: Used since 2004. 78 Indicators on all different parts of business can report to A Level to C Level. Don't have to report if can make a case not material or propriety. Good, covers basics. Some industries have created sector specific supplement. Not pharma.
Access to medicine. Use as another measure.
Measure progress in achieving Millennium Goals.
B: Framework. Map online on how Starbuck's report links to GRI.
How technology affecting transparency?
M: Tough for highly regulated industry. Pharma industry is hesitant to use blogs, discussions because fearful of patients reporting adverse reactions. Often finding third parties with inaccurate, incomplete information on their webpages, pose question on how to respond, if should respond.
Realtime annual reports. Timberline
K: Good for information sharing. Also a lot of opportunity for swirl. Questions and challenges that is not what the company does not need to be focused on.
Dell and Intel good models.
Trend for reporting is not a static annual report. Trend is information at fingertips. Scan product on store shelf.
B: Starbucks. Leverage social media platforms to create rigorous discussion. Starbuck's are giving back information on all aspects, why not recycling cups, why not this flavor, this store not run well, helps you see what the customers are passionate about.
Q/A
Third Party Assurance Auditing
K: Building trust. Value to stakeholders to feel reading is accurate. Target has not done yet, plan to do in future.
M: Not currently used. However important learn a lot internally. Data collection. Recent merger with Sherring Plough complicated systems.
Very expensive. Have to make a case for that.
B: So much mistrust we decided to have data audited. Painful but it makes you better.
B:Proactive reporting opportunity for building trust. Can be a competitive advantage. Stronger policy ties.
Have to respond to noisy stakeholder even if a minority.
K:Value of transparency. 2008 Shareholder that wanted to take back real-estate business. Had public process to inform and educate shareholders. Here to tell you why were are not supporting this idea. Found out that sharing what doing as a business, garners a lot more support.
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